💎 SHIBA has recently exhibited significant market dynamics. Currently, it is encountering resistance at the supply area, with the previous attempt to breach it at 0.00388 resulting in rejection.
💎 If SHIBA manages to successfully break above this supply area, confirmed by a daily candle closing above it, there is probability for SHIBA to continue its upward movement and reach our target area.
💎 However, if SHIBA fails to break out above the supply area, there is a likelihood of price rejection and a subsequent decline towards the demand area. Notably, SHIBA has yet to retest the demand area after its significant breakout in the past.
💎 The demand area holds crucial significance for SHIBA, as a bounce from this level would signify strength and an attempt to re-challenge the supply area.
💎 However, failure to sustain above the demand area, resulting in a breakdown, would signal a bearish sentiment. This could lead SHIBA to revert to a bearish trend, potentially prompting further downward movement towards the support area, or even lower levels.
💎 If SHIBA manages to successfully break above this supply area, confirmed by a daily candle closing above it, there is probability for SHIBA to continue its upward movement and reach our target area.
💎 However, if SHIBA fails to break out above the supply area, there is a likelihood of price rejection and a subsequent decline towards the demand area. Notably, SHIBA has yet to retest the demand area after its significant breakout in the past.
💎 The demand area holds crucial significance for SHIBA, as a bounce from this level would signify strength and an attempt to re-challenge the supply area.
💎 However, failure to sustain above the demand area, resulting in a breakdown, would signal a bearish sentiment. This could lead SHIBA to revert to a bearish trend, potentially prompting further downward movement towards the support area, or even lower levels.
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Want to trade like a PRO without the 15+ year learning curve?
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.